11/20/18 – Washington – Sallyport Commercial Finance delivers an $800,000 Accounts Receivable facility and a $500,000 Inventory facility to a family-run manufacturer of baby products.
Through personal encounters with families and their newborns, a medical practitioner with an entrepreneurial mind-set and a flair for design, used their expertise and creativity to develop a collection of baby products used to help newborn babies and their mothers’ transition from hospital to home. The management team has developed a strong brand with various market verticals by offering quality products and excellent service. Like many companies, high demand and lack of sufficient working capital to fuel their growth put undue pressure on the business and their existing lender. To relieve the pressure and ensure future growth, the management team liked the solution offered by Sallyport.
“Sallyport was engaged by the incumbent Lender to exit a customer that was experiencing tremendous growth. The lender was being asked to fully fund the growth but were unwilling to work with the business due to excessive leverage. We were willing to take this chance with a creative sub-line that will help the business fund sales at low margins that will be used for marketing purposes. In addition, there is also an inventory component that allowed us to pay-off the current lender and give the business the additional capital needed for growth and to meet an upcoming payroll,” states James Bartel, Vice President of Business Development.
Sallyport Commercial Finance is excited to assist this company with a creative capital structure so they can expand the business through larger retailers, direct consumer sales, and other direct verticals allowing them to maximize future sales. The Hopes and Dreams of this business and the parents of newborns worldwide will be helped by Sallyport’s continued support.
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